Only partially covered

Storm damage: when insurance companies pay

Storm damage to your own home is often only partially covered.

(Bild: APA/ROLAND SCHLAGER)

After a storm, the question arises as to whether the insurance will pay for the damage. In most cases, the insurance benefit is limited. If you want to protect yourself, you need to take out appropriate insurance, for example against catastrophe damage or hail damage in agriculture. However, there are also cases where homeowner's or household insurance will cover the damage, according to the Austrian Insurance Association.

This insurance covers damage caused by storms with top speeds of more than 60 km/h and consequential damage caused by falling trees and masts or hail. If damage is caused to the property by flooding or earthquakes, in most cases damage of 5,000 to 10,000 euros is also covered, depending on the policy of the homeowner's or household insurance, Christian Kreuzer from Wiener Städtische told APA on Sunday.

"Premiums would be unmanageable"
Klaus Kraigher from UNIQA told APA that the industry is in favor of including catastrophe damage in the fire insurance for homeowners and household insurance. "This would result in a manageable increase in premiums for all policyholders, but the damage would be 100 percent covered," said Kraigher.

There are regional differences in the fees for special agreements, as Wiener Städtische and UNIQA also announced. These are based on the risk zones. The official data on this can be viewed publicly and free of charge at hora.gv.at, the insurers emphasized.

Processing can take time
As some insurance companies are still busy processing claims from the last storm, the new storm poses challenges for insurance companies, Wiener Städtische said. However, they are well prepared. "We have increased our service centers and IT and are using AI," noted UNIQA, for example.

However, Wiener Städtische stated that it was important to document and photograph the damage after the initial clean-up work.

"Recommend everyone to take precautions"
Insurance companies are naturally keen to keep damage to a minimum and focus on prevention. For example, policyholders are warned via apps or text messages when severe weather is expected. "Preventive measures can prevent damage to buildings or at least keep it to a minimum", said Wiener Städtische Managing Board Director Doris Wendler even before the storm. "We recommend that all homeowners and tenants take precautions while it is still possible. However, the most important thing is not to risk your own life under any circumstances."

WKÖ and SVS support businesses
Domestic businesses were also hit hard by the storm disaster. The Austrian Federal Economic Chamber (WKÖ) and the Social Insurance for the Self-Employed (SVS) have therefore launched a relief campaign to support those member companies that have fallen on hard times through no fault of their own as a result of the storms, the Austrian Federal Economic Chamber (WKÖ) announced in a press release on Sunday.

The storm relief campaign covers a total of 10 percent of the damage incurred per claim, up to a maximum of 20,000 euros. Half of the financial support in each individual case of damage is borne by the respective provincial chamber of commerce. In addition, the WKÖ contributes 20 percent of the compensation. And 30 percent is paid by the Social Insurance Institution for the Self-Employed. If there is no SVS membership, the provincial chamber and the federal chamber each pay half of this share.

(Bild: Christian Schulter/Christian schulter)

(Bild: APA/FF PURBACH)

(Bild: APA/FF BADEN-STADT)

(Bild: APA/FF WIENER NEUSTADT)

"The affected businesses can rest assured that they will not be left alone to deal with the storm and flood damage," announced WKÖ Secretary General Karlheinz Kopf. "Rapid assistance is the order of the day, as the recent heavy rainfall can quickly become a threat to the existence of affected businesses," noted Harald Mahrer, President of the ÖWK. And Peter Lehner, Chairman of the Social Insurance for the Self-Employed (SVS), added: "We see ourselves as a partner for our policyholders and offer social security, especially in the event of unforeseeable disasters such as the current storms."